HostSPDR vs USDE — price, size and safety, side by side
SPDR (Solana) vs USDE (Ethereum) — every figure is the freshest dated measurement we hold for that token, never a live-feed guess. Prices stamped 2026-09-27 / 2026-09-27.
SPDR vs USDE — normalized performance, 2026-09-08 to 2026-09-27T18:22:06
| SPDR | USDE | |
|---|---|---|
| Price | $0.002558 | $0.9991 |
| Market cap | $2.45M | $4.94B |
| 24h volume | $647.76 | $10.82M |
| Liquidity | $69.55K | $14.81M |
| FDV | $2.45M | $4.94B |
| Holders | 11,756 | 48,804 |
| Age (days) | — | 66 |
| Safety grade | A | B |
Where they differ
- USDE measures ~2,019× the market cap of SPDR
- USDE measures ~213× the liquidity of SPDR
- USDE measures ~16,698× the 24h volume of SPDR
- USDE measures ~4.2× the holder count of SPDR
- over the shared window SPDR moved +13.3% while USDE moved −0.05%
What the data says
SPDR
SPDR is the token of SpiderSwap — a Solana swap-aggregation and routing project. The mint AT79ReYU9XtHUTF5vM6Q4oa9K8w7918Fp5SU7G1MDMQY is what our scan tracks: $2.4 million market cap, $70 thousand of liquidity and 11,756 holders as of September 26, 2026.
The honest read: swap infrastructure on Solana is the most contested lane on the chain — Jupiter owns the category — so a smaller aggregator's token is a bet on a niche (specific routing, communities, or features the incumbent does not serve). Real project, real pool, challenger odds.
USDE
USDe is Ethena's synthetic dollar — a stablecoin that holds its peg not with bank deposits but with a delta-neutral trade: spot crypto collateral (staked ETH, liquid stables) hedged by short perpetual futures, so the portfolio's dollar value stays flat whatever the market does. The contract 0x4c9edd5852cd905f086c759e8383e09bff1e68b3 is the canonical Ethereum deployment — USDe also exists on Solana under a different mint, where it is one of the deeper stable pools in our corpus. Our September 27, 2026 read shows $14.8 million of tracked pool liquidity on the mainnet venues.
The honest mechanics: USDe's yield is not magic — it is the funding-rate spread between staking yield and the perp market's willingness to pay longs, and that spread can and does go negative. When funding flips, Ethena pays the hedge instead of earning it, and the carry can invert into a slow bleed. The second layer is counterparty: the short positions sit on offshore exchanges through settlement custody, so exchange failures or frozen collateral are real, non-theoretical risks — the design survived the October 2025 liquidation cascade, which is evidence, not a guarantee. It is also not the same risk shape as UST: USDe is fully collateralized at inception; the failure mode is a sustained negative-funding grind plus a custody break, not a mint-redeem death spiral.
FAQ
Which is bigger, SPDR or USDE?
By tracked market cap: SPDR (Solana) measures $2.45M and USDE (Ethereum) measures $4.94B — dated snapshots, not a live feed.
Which is safer, SPDR or USDE?
On the contract checks we publish: SPDR (Solana) grades A and USDE (Ethereum) grades B. A grade is a structural check on the contract, not a promise about the asset.
How have SPDR and USDE performed over the shared window?
Between 2026-09-08 and 2026-09-27T18:22:06, the measured snapshots show SPDR at +13.3% and USDE at −0.05%.
More comparisons
SPDR vs AOLSPDR vs LLMBCOQ vs SPDRKUMA vs SPDRUSDE vs WEETHARC vs USDEUSDE vs UUSDE vs USDC
The grade column is the one CMC's compare page cannot print — our grade is computed from the contract itself (mint/freeze authority, liquidity, holder concentration). Changes are measured over the shared window stated on the chart, 2026-09-08→2026-09-27T18:22:06; a token with fewer measured points measures a shorter span inside it.
Figures are dated on-chain snapshots, not a live feed. Safety grades are structural checks — not investment advice. Free · no signup · a NexFlow product.